Palm is one of the pioneers in the smartphone industry. As the competition begins to grow rapidly, they struggled to keep pace with the dynamic needs of the consumers which led to a continued downhill in 2010. But in mid-2010, HP acquired Palm and enters the tablet industry with its Touchpad tablet that runs webOS.
This 2015, Palm has been acquired again by another company. Chinese consumer electronics company TCL buys the right to the Palm from HP.
TCL CEO George Guo reveals that in the acquisition, they plan to revive Palm in Silicon Valley. He said that he wants to rebuild the brand and create a collaborative environment that will allow users’ feedback to pave the success of the company.
Palm will now be run by an independent team based in California. TCL will provide all the necessary resources to support the project. They will also be behind Palm’s marketing, sales and distribution processes.